Gavin Wendt’s Post

Coverage stock Auric Mining Limited (ASX:AWJ) is a gold story that is worth keeping an eye on, as it enjoys a gradual market re-rating based on its appeal as a relatively low-risk, fully-funded growth situation. AWJ is a junior gold explorer and producer, with a portfolio of projects that are situated within the prolific Eastern Goldfields of Western Australia – comprising Jeffreys Find, Widgiemooltha and Spargoville. The company’s relatively low-risk incremental growth strategy is based upon self-sustaining development at each of its planned gold operations. By the end of 2023, Stage One mining had been completed at Jeffreys Find, with 9,741 ounces of gold sold for $29.28 million in gross revenue (from 175,865 tonnes processed), generating a net cash surplus of $9.53 million (of which AWJ’s 50% share was $4.77M). Stage Two mining at Jeffreys Find will commence this week, with the aim of extracting a minimum of 300,000 tonnes of ore (70% more than Stage One). AWJ held $4.5M in cash reserves at the end of 2023. By being prepared to retain a 50% stake in Jeffreys Find project net cashflows, AWJ has avoided the time, complexity and costs of mobilizing equipment and hiring contractors independently, as well as eliminating the requirement for it to fund its proportionate share of working capital for the project. With BML handling the mining operations, AWJ can realise returns from Jeffreys Find far quicker than if it was running the project on a stand-alone basis. This has also enabled AWJ to take full advantage of the strong A$ gold price environment and also enables AWJ to focus on moving its second project, Munda, towards production, in late 2024/early 2025. #gold #equities #commodities #resources #mining #ausbiz

🔔 Equinox Pours First Gold at Greenstone Mine in Ontario 🔔 🌟 A Milestone for Gold Mining in Canada 🌟 Equinox Gold (TSX: EQX) has poured the first gold at its new Greenstone mine near Geraldton, Ontario, producing 1,800 ounces. Greg Smith, Equinox's CEO, commented: "We look forward to ramping up to commercial production in the third quarter of this year and delivering sustained value to all our stakeholders." The Greenstone mine aims to reach 90% of its plant's 27,000 tonnes per day capacity by the end of 2024. Production in 2025 is expected to be 199,000 ounces at a cost of $879/oz in the second half of the year. At full capacity, the mine will produce approximately 400,000 ounces annually during its first five years and 360,000 ounces annually over the 14-year life of the mine. In April, Equinox acquired the remaining 40% of the mine from Orion Mine Finance for approximately C$1.4 billion ($995 million) in cash and shares. https://lnkd.in/eQAxqTA8 What do you think the successful pouring of the first gold at Greenstone Mine signifies for the future of gold mining in Canada and its impact on local communities? #Lithium#gold #paneldiscussion #criticalminerals #evcharging #energytransition #cobalt #nickel #graphite #ESG #mining#Mining #Digitalization #SustainableEnergy #TalentManagement #Efficiency

Resources + Energy Group Gears Up for First Gold Pour at East Menzies Project (ASX: REZ) REZ’s Group Managing Director, Daniel Moore, commented on the developments: “Gold mining activity at our Maranoa project is now ready to proceed once approval from DIMRS is received. We proved in FY2022 that, working with a reputable mining contractor, gold projects of this scale can be very profitable at a gold price of circa A$2,600. As the current gold price is now around A$3,500, we are hoping to improve on that success.” “Lamington see Maranoa as a major opportunity to provide the local industry with economic processing options that can be scaled up and provide cash flow for companies like REZ, which has high-grade, low-volume assets that have previously required trucking ore up to 130km to the nearest mill. Successfully undertaking gold mining operations and processing using the trial vat leach facility for gold production at Maranoa, opens up a number of other old gold mines on our tenements for similar operations” Read our article below: https://lnkd.in/gdffjwBY #gold #mining #resources #geology #stocks #rez #asx

In our updated research report on Auric Mining Limited (ASX:AWJ), we are pleased to upgrade our intrinsic valuation per share from $0.47 to $0.54. Given the company's impressive progress in mining Jefferys Find stage 2 and the gold price currently exceeding $3,700, our conviction in the company's ability to deliver exceptional shareholder returns has strengthened. Favourable macroeconomic tailwinds around gold, combined with the team’s proven execution ability, position Auric Mining Limited (ASX:AWJ) well to develop the Munda project. We anticipate Munda will generate $136 million in cash profit over the next four years, even with a conservative gold price estimate of $3,100. With a current market cap of just $44 million, it's clear that Auric Mining Limited (ASX:AWJ) remains significantly undervalued. Click the link below to access our updated report: https://lnkd.in/dSmv4xik #goldproducer #cashflow #strongbuy #asx #smallcap #rerating

Orford Mining Corp. (ORM-V)   Orford Mining announces acquisition by Alamos Gold      On January 15, 2024, Orford announced that it has entered into a definitive arrangement agreement with Alamos Gold Inc. (AGI-T, AGI-NYSE) pursuant to which Alamos shall acquire Orford for a total consideration of ~$24M. Orford is a Québec well diversified focused explorer with assets in the Cape Smith Belt, Nunavik (Qiqavik, West Raglan and lithium exploration projects comprising a land package totaling over 177,000 ha) and 4 gold projects totalling nearly 12,000ha in the Joutel region of the Abitibi District. Alamos, shall acquire all of the issued and outstanding common shares of Orford for deemed consideration of $0.10 per Orford share, representing a total equity transaction value (on a 100% basis) of ~$24 M on a fully diluted, in-the-money basis. Orford’s shareholders shall receive 0.005588 of an Alamos common share for each Orford share held. This is a non-arm’s length transaction as Alamos currently owns 61,660,902 Orford shares (~27.5% of the issued and outstanding Orford shares). The Transaction shall be effected by way of a court-approved plan of arrangement and subject to shareholder approval at a special meeting of shareholders expected to be held in March 2024. The transaction provides value in light of the current junior mining market along with opportunity to continue to benefit from the potential success on the Orford properties. Alamos has the skill set and balance sheet to advance the Orford projects through the next stages of exploration and development. See end of: https://lnkd.in/eUQ-tPuD See also: https://lnkd.in/gJkSCsV4   https://lnkd.in/enkVMTFt).   https://lnkd.in/eQxSZTRP #quebec #abitibi #nunavik #gold #lithium #exploration #alamos

Perfect strategy, upgrade portfolio, improve balance sheet

Brightstar Resources (ASX:BTR) could enjoy stronger gold production should it complete the acquisition of Linden Gold Alliance with the latter ramping up mining rates at the Second Fortune mine. Brightstar Resources #ASX $BTR

CuFe Ltd (ASX:CUF) might be on the verge of some dividends from its royalty interest in the Crossroads Gold Project, situated in Kalgoorlie and operated by Northern Star Resources Ltd (ASX:NST). The interest, held via CuFe's wholly owned subsidiary Jackson Minerals Pty Ltd, includes a 2% net smelter royalty over mining lease M24/462. Northern Star recently secured approval from the Department of Mines, Industry Regulation and Safety (DEMIRS) for a mining proposal to extract up to 2.67 million tonnes (MT) of ore over a 36-month period, set to start in the second half of 2024. CuFe's royalty interest, acquired through Jackson Minerals in 2009, could become a significant revenue source once Northern Star’s mining operations commence. The majority of ore extraction is expected in years two and three following initial pre-stripping activities. More at #Proactive #ProactiveInvestors #ASX #CUF #Gold #Mining #PreciousMetals http://ow.ly/GZ01105v2ZS

New mining leases have been granted to Alto Metals Ltd (ASX:AME) over the Bull Oak and Indomitable camps at the Sandstone Gold Project in Western Australia. The granting of these leases by the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) bolsters Alto’s resource base and supports continued exploration and development at the project. The leases, M57/663 and M57/665, consolidate existing resources and historical workings, further de-risking the project and providing flexibility for future mining operations. Indomitable camp contains an indicated and inferred mineral resource of 210,000 ounces at 1.2 g/t gold, while Bull Oak hosts an inferred mineral resource of 65,000 ounces at 1.1 g/t gold. More at #Proactive #ProactiveInvestors #ASX #AME http://ow.ly/a7pr105C2jw

Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF), up 5% on Monday, is poised for a significant rebound, according to RBC Capital's latest analysis. The company is expected to unveil a three-year production and cost guidance at its Capital Markets Day on November 22, which is anticipated to highlight improvements in production and cost efficiency. This optimism is largely driven by the upcoming commissioning of the Mara Rosa project and the mining of higher-grade areas at Inmaculada. RBC Capital maintained an 'outperform' rating for Hochschild, with a price target of 130p for the shares, suggesting confidence in the company's future performance. More at #Proactive #ProactiveInvestors http://ow.ly/CL1B1052yMM #LSE #OTCQX #HOC #HCHDF